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Question
The quantity of material to be ordered at one time is known as ____________.
The quantity of material to be ordered at one time is known as ____________.
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Solution
The correct options are
A Ordering quantity
C Economic order quantity
The quantity to be ordered at one time is known as 'ordering quantity' and should be determined with good care. It is also known as (EOQ) Economic order quantity.Economic order quantity (EOQ) is the ideal order quantity a company should purchase to minimize inventory costs such as holding costs, shortage costs, and order costs.
A Ordering quantity
C Economic order quantity
The quantity to be ordered at one time is known as 'ordering quantity' and should be determined with good care.
It is also known as (EOQ) Economic order quantity.
Economic order quantity (EOQ) is the ideal order quantity a company should purchase to minimize inventory costs such as holding costs, shortage costs, and order costs.
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